The China Securities Regulatory Commission approved the A-Share IPO registration application of HitGen Inc. ("HitGen") on March 17, 2020, and JunHe acted as the issuer’s legal counsel. HitGen was successfully listed on the STAR Market of Shanghai Stock Exchange (SSE) on April 16, 2020 with its stock code being 688222.
HitGen is the first company in Chengdu, in Sichuan Province and even in Southwestern China successfully listed on the SSE STAR Market. Its core technology is centered around the synthesis and screening of rapidly expanding and proprietary DNA-encoded compound libraries of novel small and macrocyclic molecules for lead generation, and its core business includes DNA encoded library (DEL) screening, customized design and synthesis of DNA encoded library, specialized chemistry & bioscience services, and innovative drug discovery project licensing.
HitGen partners with pharmaceutical companies around the world to provide DEL screening services for designated biological targets based on its proprietary compound library of small molecules.
Customized Design and Synthesis of DNA Encoded Library
HitGen provides DEL design and synthesis services to innovative pharmaceutical research, development and production companies around the world, mostly multinational pharmaceutical companies, as well as the technology transfer in respect of certain proprietary DEL compound structural information and screening methods.
Specialized Chemistry & Bioscience Services
HitGen also provides synthesis and modification services for certain designated compound and nucleic acid during its DEL screening and customized DEL design and synthesis services.
Innovative Drug Discovery Project Licensing
HitGen initiates a number of high potential and high value projects of drug discovery and clinical trial. These projects are based on its independent intellectual property rights in the small molecules library under the circumstance where there is no conflict of interests with the screening projects for customers.
By the end of 2019, HitGen’s DNA encoded library contained more than 400 billion kinds of small molecule DNA encoded compounds, one of the leading small molecule library around the world.
During the IPO, HitGen issued 40.68 million A-shares at the price of RMB 20.52 per share in a total amount of RMB 834.7536 million, raising a net amount of RMB 746.0112 million after deducting the IPO costs.